6,500 Shares in Flex Ltd. $FLEX Purchased by Monetta Financial Services Inc.

Monetta Financial Services Inc. purchased a new stake in Flex Ltd. (NASDAQ:FLEX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,500 shares of the technology company’s stock, valued at approximately $1,053,000.

Other hedge funds have also bought and sold shares of the company. Frazier Financial Advisors LLC purchased a new position in shares of Flex during the 4th quarter valued at approximately $28,000. Parkside Financial Bank & Trust boosted its holdings in Flex by 57.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after buying an additional 166 shares in the last quarter. Gables Capital Management Inc. purchased a new stake in Flex during the fourth quarter worth $42,000. Caitong International Asset Management Co. Ltd raised its position in shares of Flex by 6,318.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock worth $43,000 after acquiring an additional 695 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in shares of Flex by 58.1% during the 4th quarter. CENTRAL TRUST Co now owns 797 shares of the technology company’s stock worth $48,000 after acquiring an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In other news, COO Kwang Hooi Tan sold 8,981 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $145.19, for a total value of $1,303,951.39. Following the completion of the sale, the chief operating officer directly owned 248,546 shares in the company, valued at $36,086,393.74. This represents a 3.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Daniel Wendler sold 1,311 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.20, for a total transaction of $190,357.20. Following the completion of the transaction, the chief accounting officer directly owned 37,932 shares in the company, valued at approximately $5,507,726.40. This represents a 3.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 560,183 shares of company stock valued at $80,426,190. 0.62% of the stock is owned by company insiders.

Flex Stock Performance

NASDAQ FLEX opened at $113.03 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $132.61 and its 200-day simple moving average is $105.24. The company has a market cap of $41.75 billion, a PE ratio of 43.64, a price-to-earnings-growth ratio of 0.61 and a beta of 1.67. Flex Ltd. has a 1-year low of $47.83 and a 1-year high of $166.86.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Friday, June 26th. The technology company reported $1.00 EPS for the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%.The firm had revenue of $7.93 billion during the quarter. As a group, equities research analysts anticipate that Flex Ltd. will post 4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FLEX has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Flex in a research note on Friday, July 17th. Barclays decreased their target price on Flex from $203.00 to $144.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Robert W. Baird set a $142.00 price target on shares of Flex in a report on Thursday, July 30th. Freedom Capital upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, KeyCorp increased their price objective on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.20.

Flex Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.